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    7450-7490 Broadview Rd Parma, OH 44134
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    7450-7490 Broadview Rd Parma, OH 44134

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    • Lifestyle centers
    • 41,694 SF
    For Lease
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    7450-7490 Broadview Rd, Parma, OH 44134 For Lease
    Contact for pricing

    7450-7490 Broadview Rd, Parma, OH 44134

    Lifestyle centers

    Cleveland, OH 44134
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    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Lifestyle centers

    Property Details for 7450-7490 Broadview Rd

    Property size
    41,694 SF
    Property type
    Lifestyle centers
    Property subtype
    Power centers

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Parma
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.6854
    Latitude
    41.3632

    Comparable in this City

    • Value Estimation by Request
      41,694 SF

      7450-7490 Broadview Rd

      Neighborhood centers • 41,694 SF
      7450-7490 Broadview Rd, Parma, OH 44134
      View Details
    • Value Estimation by Request
      237,701 SF

      7542 Broadview Rd

      Community centers • 237,701 SF
      7542 Broadview Rd, Seven Hills, OH 44134
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    • Value Estimation by Request
      101,450 SF

      1795 Snow Rd

      Neighborhood centers • 101,450 SF
      1795 Snow Rd, Parma, OH 44134
      View Details
    • Value Estimation
      $15,015,000
      238,500 SF

      7526 Broadview Rd

      MINI-MALL • 238,500 SF
      7526 Broadview Rd, Parma, OH 44134-6701
      View Details
    • Value Estimation
      $1,525,000
      16,500 SF

      1852 Snow Rd, Unit 1942

      MINI-MALL • 16,500 SF
      1852 Snow Rd, Parma, OH 44134-2723
      View Details
    • Value Estimation by Request
      0.17 Acres

      64th E Dr

      SHOPPING CENTER, STRIP CENTER • 0.17 Acres
      64th E Dr, Cleveland, OH 44134
      View Details

    Similar Nearby for Sale

    • $595,000

      Broadview Road Commercial Land Available

      Commercial land available on Broadview Road in Parma, Ohio.
      6338 Broadview Rd, Parma, OH 44134
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    • $210,000
      Pending

      Mixed-Use Property in Parma, OH

      Mixed-use property with commercial and residential income potential.
      5432 State Rd, Parma, OH 44134
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    • New
      $439,000
      10,800 SF

      Two-Story Commercial Investment Property

      Two-story commercial property with high visibility and income potential.
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      10,000 SF

      Freestanding Three-Story Retail Building

      10,000 SF retail building on 1.3 to 3.2 acres.
      7892 Broadview Rd, Parma, OH 44134
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      0.16 Acres

      Land For Sale, Parma

      Land available in Parma, Ohio.
      3214 Liggett Dr, Parma, OH 44134
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    • New
      $335,000
      2,324 SF

      Remodeled Parma Duplex with Garage

      Updated duplex in Parma with a newer 3-car garage.
      3806 Liggett Dr, Parma, OH 44134
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    Similar Nearby for Lease

    • Contact for pricing
      41,694 SF

      7450-7490 Broadview Rd

      Lifestyle centers • 41,694 SF
      7450-7490 Broadview Rd, Parma, OH 44134
      View Details
    • Contact for pricing
      3,326 SF

      Former Restaurant Space Available

      3,326 SF former restaurant for lease or ground lease.
      2200 Snow Rd, Parma, OH 44134
      View Details
    • Contact for pricing
      1,917 SF

      Retail Space in Parma, Ohio

      Retail space available in a shopping center in Parma, Ohio.
      5669-5739 Broadview Rd, Parma, OH 44134
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    • Contact for pricing
      4,000 SF

      Retail Space in Parma, Ohio

      Retail space available in Parma, anchored by Giant Eagle.
      1825-2005 Snow Rd, Parma, OH 44134
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    • Contact for pricing
      2,400 SF

      Retail Space in High-Traffic Area

      Neighborhood shopping center with high visibility and traffic counts.
      7450-7490 Broadview Rd, Cleveland, OH 44134
      View Details
    • Contact for pricing
      2,250 SF

      Retail Spaces in Community Center

      Retail spaces available in established Parma community center.
      7542-1225 Pleasant Valley Rd, Parma, OH 44134
      View Details
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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